Implementing the G-20 Data Gaps Recommendations: State of Play and Next Steps
Washington DC, March 30-31, 2011
The Statistics Department of the IMF jointly with the Financial Stability Board (FSB) Secretariat organized a conference of G-20 senior officials on the G-20 Data Gaps Initiative at the IMF Headquarters in Washington D.C., during March 30-31, 2011.
The conference was part of the consultation process leading to the preparation of the next progress report to be delivered to the G-20 Ministers of Finance and Central Bank Governors in June 2011. The main purpose of the conference was to take stock of the advancements being made, discuss main messages emerging from the G-20 bilateral consultations by the IMF staff, and identify issues requiring further action and priorities going forward. It was attended by senior representatives from all G-20 members, as well as Hong Kong SAR, The Netherlands, Singapore, Spain, and Switzerland, and eight International Financial Institutions. Mr. John Lipsky, the IMF First Deputy Managing Director, Ms. Adelheid Burgi-Schmelz, Director, IMF Statistics Department, and Mr. Nigel Jenkinson, Advisor, FSB Secretariat delivered the opening remarks.
The conference featured presentations and contributions from the international institutions working on the G-20 recommendation, including the FSB Secretariat, the International Organization of Securities Commissions, and the members of the Inter-Agency Group on Economic and Financial Statistics (IAG)–Bank for International Settlements, European Central Bank, Eurostat, IMF (chair), the Organisation for Economic Co-operation and Development, United Nations, and World Bank. The conclusions of the conference will inform the preparation of the next progress report. The summary proceedings and related documents are as follows.
The views expressed in these papers are those of the authors only, and the presence of them, or of links to them, on the IMF website does not imply that the IMF, its Executive Board, or its management endorses or shares the views expressed in the papers.
|Implementing the G-20 Data Gaps Recommendations:
State of Play and Next Steps
|Wednesday, March 30, 2011|
|8:45 a.m.||Registration and coffee|
|9:15 a.m.||Welcome and opening remarks John Lipsky, First Deputy Managing Director, IMF|
Session 1: Overview and the Way Ahead|
This session provides an overview of the state of work since the April 2010 Basel Conference and outlines the way ahead.
Session 2: The G-20 Bilateral Visits|
This session discusses the main themes emerging from the bilateral consultations with G-20 economies conducted by IMF staff, focusing on messages from feedback received and implications for the way forward.
Session 3: The Global Network and Systemically Important Global Financial Institutions (G-SIFIs)|
This session focuses on the envisaged data template for G-SIFIs and implications for national authorities and international institutions, as well as reporting institutions (recommendations # 8 and # 9).
Session 4: Understanding Financial Interconnectedness|
This session provides an overview on ongoing IMF work on improving the understanding of financial interconnectedness in the context of macro-prudential surveillance and the implications for financial policymaking.
Session 5: Strengthening Systemic Risk Assessment|
This session presents the state of play on the development of new analytical approaches to identify systemic risk in the financial system.
Session 6: Stock-Taking of Recommendations Building on Existing Conceptual/Statistical Frameworks|
This session provides an overview of the ongoing work by the international agencies in implementing recommendations for which conceptual/statistical frameworks exist, including the implications for national authorities.
|Thursday, March 31|
|9:00 a.m.||Arrival and coffee|
Session 7: Strengthening Data on Cross-Border Linkages|
This session explains the enhancements agreed for critical cross-border series, and discusses the implications for national authorities and international institutions.
Session 8: Advancing Work on Sectoral Accounts|
This session discusses developments on methodological and operational approaches to sectoral accounts, including with regard to nonbank financial institutions and corporates.
Session 9: Enhancing Global Transparency|
In this session ongoing work on enhancing global transparency is described.
|2:15 p.m.||Session 10: Wrapping-Up|
 These two reports presented to, and endorsed by, the G-20 Ministers of Finance and Central Bank Governors at their meetings in November 2009 and June 2010 and by the IMFC, can be found at http://www.imf.org/external/np/g20/pdf/102909.pdf and http://www.imf.org/external/np/g20/pdf/053110.pdf, respectively.